insolvency
B2CEFR level
38/100Rarity: fairly common
TechnicalRegister
Law noun
The state of being unable to pay one's debts.
Mounting losses pushed the airline into insolvency.
Business noun
The state of being unable to pay debts as they become due, or of liabilities exceeding assets.
Trading while in a state of insolvency can expose directors to personal liability.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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